Teacher Retirement System of Texas reduced its position in shares of Lincoln National Co. (NYSE:LNC) by 3.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,073 shares of the financial services provider’s stock after selling 2,292 shares during the period. Teacher Retirement System of Texas’ holdings in Lincoln National were worth $3,761,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Northern Oak Wealth Management Inc. purchased a new position in shares of Lincoln National during the 4th quarter worth about $2,912,000. Abacus Planning Group Inc. purchased a new position in shares of Lincoln National during the 4th quarter worth about $571,000. Investors Asset Management of Georgia Inc. GA ADV purchased a new position in shares of Lincoln National during the 1st quarter worth about $223,000. Globeflex Capital L P purchased a new position in shares of Lincoln National during the 4th quarter worth about $397,000. Finally, DNB Asset Management AS lifted its holdings in shares of Lincoln National by 30.9% during the 1st quarter. DNB Asset Management AS now owns 65,029 shares of the financial services provider’s stock worth $3,817,000 after acquiring an additional 15,358 shares during the period. Institutional investors and hedge funds own 84.44% of the company’s stock.
LNC has been the topic of several recent analyst reports. UBS Group increased their price objective on shares of Lincoln National from $67.00 to $69.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. set a $92.00 price objective on shares of Lincoln National and gave the stock a “buy” rating in a report on Thursday, May 2nd. Zacks Investment Research upgraded shares of Lincoln National from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a report on Friday, May 10th. Finally, ValuEngine upgraded shares of Lincoln National from a “strong sell” rating to a “sell” rating in a report on Wednesday, February 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $75.92.
NYSE LNC traded up $0.41 during mid-day trading on Monday, hitting $64.41. The company’s stock had a trading volume of 12,225 shares, compared to its average volume of 1,357,042. Lincoln National Co. has a 52-week low of $48.07 and a 52-week high of $71.27. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.19 and a current ratio of 0.19. The firm has a market capitalization of $12.95 billion, a price-to-earnings ratio of 7.60, a PEG ratio of 0.77 and a beta of 1.95.
Lincoln National (NYSE:LNC) last posted its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $2.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.08 by $0.06. Lincoln National had a net margin of 9.02% and a return on equity of 12.32%. The firm had revenue of $4.36 billion for the quarter, compared to analyst estimates of $4.25 billion. During the same quarter last year, the firm posted $1.97 earnings per share. Lincoln National’s revenue for the quarter was up 19.7% compared to the same quarter last year. Sell-side analysts forecast that Lincoln National Co. will post 9.29 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.30%. Lincoln National’s dividend payout ratio is currently 17.45%.
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About Lincoln National
Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Annuities, Retirement Plan Services, Life Insurance, and Group Protection. The Annuities segment offers variable, fixed, and indexed variable annuities.
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